January 14, 2021
Announcing the Sale of The Atwell Suites Hotel Site in Denver, CO
Denver, CO –January 14, 2021– Alex Kovacs, CCIM , Commercial Broker & Advisor at Madison Commercial Properties, is pleased to announce the sale of a 2.4 acre site proposed for an Atwell Suites hotel, located between 64th and 65th Avenue, just west of Tower Road in Denver, in the DIA airport market. Madison Commercial Properties represented the buyer in the sales transaction. The seller was L.C. Fulenwider, the developer of the Denver International Business Center, where this parcel is located. Alex Kovacs represented the buyer, KJ Hotel Properties, LLC, a Missouri development company familiar with the Denver hotel market.
The land will be developed with an Atwell Suites, a 96 unit all suites hotel. The brand is a new concept affiliated with the IHG franchise (Holiday Inn). The buyer is bullish on the Denver market, despite the challenges facing the hospitality industry due to COVID 19. Groundbreaking will likely be sometime in the first or second quarter of 2021, to take advantage of favorable construction costs. The hotel will take approximately a year to complete, which should position it favorably in a post COVID environment.
For more information on this property, please contact Alex Kovacs.